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Full-Text Articles in Law
Real Property: For Connoisseurs Of The Preposterous - When Is It A Capital Asset, Michael S. Weiner
Real Property: For Connoisseurs Of The Preposterous - When Is It A Capital Asset, Michael S. Weiner
Cleveland State Law Review
The tax approach to profit realized from the sale or exchange of real property involves a complex determination of whether it is to be treated as ordinary income or a capital gain. This problem has plagued the practitioner for more than fifty years, and has produced a voluminous body of case law. Developments in recent years have resulted in some clarification, yet to a certain extent, decisions have merely complicated what was already complex.
The Bootstrap Loophole: Can It Be Closed, Frank C. Fogl Jr.
The Bootstrap Loophole: Can It Be Closed, Frank C. Fogl Jr.
Cleveland State Law Review
The puropse of this paper is to review the history and background of bootstrap transactions and to determine: (1) Whether there is a need to close the bootstrap loophole; (2) If so, why this loophole has not been closed in the past; (3) Whether the Internal Revenue Code as it now exists contains provisions, if used, that can close this loophole; (4) If new legislation would be required to reach this end. A few key cases will be reviewed and analyzed, with major emphasis placed on the recent Clay Brown' decision, to show the attitude toward bootstrap transactions of both …
Tax Aspects Of Intellectual Property, Lawrence R. Bloomenthal
Tax Aspects Of Intellectual Property, Lawrence R. Bloomenthal
Cleveland State Law Review
Creative activity in the scientific, technical, literary, musical and artistic fields is encouraged by preferential treatment under the income tax laws. While musicians, authors, composers and inventors all receive some special tax benefits, inventors are awarded the most valuable tax breaks.
A Radical New Income Tax Plan, Donald E. Twitchell
A Radical New Income Tax Plan, Donald E. Twitchell
Cleveland State Law Review
T. Coleman Andrews former Commissioner of Internal Revenue, has embarked upon a campaign to abolish the income tax. J. Bracken Lee, Governor of Utah, has refused to pay part of his income tax as a protest against foreign economic aid. A Constitutional Amendment to limit the income tax to 25% was seriously considered a short time ago. Governor Lee's heroic gesture probably must be dismissed as a defiant skirmish in the perennial protests of isolationists. Though less spectacular, Andrews' views are much more significant because he will gain much sympathy from people who may never consider how they would fare …